The ONS discovered a “processing error” related to the trade in “erratic” goods, which includes gold, silver, precious stones, aircrafts, and ships.

Trade deficit estimates for 2015 and the first half of 2016 have been revised as a result of the discovery. It means that Britain was actually £10 billion better off over the period, thanks to a £6.7 billion upgrade to the balance of trade in 2015 and a £3.3 billion improvement in the first two-quarters of 2016.